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The Chicago Mercantile Exchange (CME) lithium hydroxide futures contract reached a record monthly trading volume of 17,013 tonnes in July 2025. This occurred according to CME data released on Tuesday August 12.The previous monthly high trading volume was 15,837 tonnes seen in February 2025.
The contract also saw its second highest ever daily trading volume on Friday August 8. On this day, 1,910 lots were traded, only lower than the 2,161 lots traded on February 11, 2025.
The CME lithium hydroxide contract, which launched in 2021, settles on the basis of the Fastmarkets CIF China, Japan and South Korea (CJK) assessment. It has shown strong growth in trading volumes and open interest since 2023, with strong trading volumes seen in 2025 especially.
“We are seeing increased participation in ex-China lithium futures markets, CME and SGX. This occurs amid signs that fundamentals may be shifting, as well as new participants entering the market,” Przemek Koralewski, global head of market development at Fastmarkets, said.
“The CME has also experienced the highest share of screen-based trading in total traded volumes. This could also attract new entrants and further expand the market,” Koralewski added.
The CME lithium hydroxide contract shifted into a sharper contango on August 11. This was probably in reaction to that day’s news that Chinese battery producer CATL had suspended lithium mining at its Jianxiawo lepidolite mine at Yichun in Jiangxi province, southeast China, on August 9. This suspension occurred when its mining permit expired.
The CME lithium hydroxide August 2025 settlement rose by $0.15 per kg to $8.20 per kg on August 11. Meanwhile, the September 2025 contract fell by $0.15 per kg to $8.75 per kg. The October contract rose by $0.68 per kg to $10.27 per kg on August 11. Also, the November contract jumped by a massive $1.03 per kg to $10.65 per kg on August 11.
The lithium carbonate futures contract on China’s Guangzhou Futures Exchange (GFEX) showed gains across the forward curve in recent days. But while the CME lithium hydroxide contango extended to November as of August 11. In contrast, the GFEX contango only extended to October contango on August 12.
Market participants suggested that the shorter-term contango on GFEX may reflect speculative sentiment. They believe the mining suspension at CATL’s Jianxiawo lepidolite mine may last as long as three months.
A source at CATL confirmed to Fastmarkets on August 11 that mining had been halted. However, the source could not say how long operations were likely to be halted.
The GFEX August contract settled at 82,100 yuan ($11,428) per tonne on August 12. In comparison, September settled at 85,760 yuan per tonne and October at 85,800 yuan per tonne on August 12. The November and December contracts also saw gains but settled at 85,620 and 84,900 yuan per tonne respectively on August 12.
Fastmarkets’ battery-grade lithium carbonate and hydroxide prices CIF CJK have rebounded following the CATL news. Fastmarkets’ price assessment for lithium hydroxide monohydrate LiOH.H2O 56.5% LiOH min, battery grade, spot price, cif China, Japan & Korea, was assessed at $7.80-8.70 per kg on August 12, up from $7.80-8.30 per kg the day before.
The price assessment for lithium carbonate 99.5% Li2CO3 min, battery grade, spot prices, cif China, Japan & Korea, was $9.00-9.80 per kg on Tuesday. This amount is a narrowing upward from $8.80-9.80 per kg on Monday.
A suite of lithium futures contracts, which all settle basis Fastmarkets’ assessments, are listed on the CME, Singapore Exchange (SGX), Intercontinental Exchange (ICE) and the London Metal Exchange.
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